Capital Markets, M&A, Securitiesiasadmin

IAS acts for CGH on cross-border sale of Pi Securities to Webull

IAS Advisory acted as Thai legal counsel to Country Group Holdings PCL (SET: CGH) on the sale of its controlling interest in Pi Securities PCL to Webull Holdings (Singapore) Pte. Ltd., a subsidiary of Nasdaq-listed Webull Corporation (Nasdaq: BULL).

Pi Securities is one of Thailand’s longer-established brokerages, with 50+ years in the local capital markets and businesses spanning equities, derivatives, wealth management, and depositary receipt issuance. The transaction is a significant cross-border sale of a licensed onshore securities platform and underscores continued international interest in Thailand’s regulated brokerage sector.

IAS Advisory advised CGH on Thai corporate and securities regulation, SET and shareholder processes, and the cross-border aspects of the sale.

The matter was led by co-founders Mr Ittinant Suwanjutha and Ms Patnatwipha Sasithiroj (formerly Siripen Kulworakulpitak), with substantial support from associates Mr Tataraj Indrasukhsri, Mr Thaveerath Rahardja, Mr Watthanai Riyapan, Mr Chanin Tinnakorn, and Ms Napassaporn Trakulroong.

Capital Markets, M&A, Securitiesiasadmin

IAS Advisory advises BYD on acquisition of Kingsford Securities

IAS Advisory is pleased to announce that it advised Beyond Securities PCL (SET: BYD), a listed Thai securities company, on its acquisition of Kingsford Securities and the related corporate restructuring of BYD into a holding company.

The acquisition was the first step in BYD’s transition from an operating securities company to a holding company platform, giving it the corporate architecture to acquire, hold, and manage a broader portfolio of businesses. The restructuring supports BYD’s longer-term strategy of diversification beyond its traditional operations and of pursuing further investments and new business lines.

IAS Advisory advised on the overall transaction and restructuring architecture, performed legal due diligence, drafted and negotiated the transaction documents, and provided ongoing counsel on corporate, regulatory, and securities law matters throughout the acquisition and the holding-company conversion.

The work was led by co-founders Mr Ittinant Suwanjutha and Ms Patnatwipha Sasithiroj (formerly Siripen Kulworakulpitak), with essential support from legal associates Mr Tataraj Indrasukhsri, Ms Natpanee Pasuntaratum, Mr Thaveerath Rahardja, Mr Watthanai Riyapan, Mr Chanin Tinnakorn, and Ms Napassaporn Trakulroong.

IAS Advisory, New Managing Directoriasadmin

* UPDATE * Patnatwipha appointed Managing Director of IAS Advisory

IAS Advisory is pleased to announce the appointment of Ms Patnatwipha Sasithiroj (formerly Siripen Kulworakulpitak) as Managing Director, effective 1st September 2026.

Co-founding partner Patnatwipha spearheads IAS Advisory’s corporate & commercial/M&A division and brings extensive experience in foreign direct investment (FDI), real estate, employment management, and business restructuring & reorganisation.

In her new role, she will oversee the firm’s strategic direction, operational management, and continued growth.

The firm also notes that Patnatwipha has formally changed her name from Siripen Kulworakulpitak to Patnatwipha Sasithiroj.

We are delighted to have Patnatwipha assume this leadership position. Her deep expertise, client focus, and commitment to excellence make her ideally suited to take the firm forward.

Throughout her career, she has advised on a wide range of complex transactions—including private equity acquisitions, joint ventures, and public takeovers—with a total value exceeding hundreds of billions of Thai Baht.

She has consistently demonstrated exceptional leadership, commercial judgement, and dedication to her clients and colleagues, navigating intricate legal and financial challenges and playing a key role in strategic decision-making across her 20+ years in private practice. Her promotion to MD reflects both her outstanding track record and the confidence we have in her ability to guide IAS Advisory through its next phase of development.

We are proud to make this announcement under her new name and look forward to the contribution she will make in this expanded role.

Warmest congratulations, Patnatwipha!

Patnatwipha can be reached at [email protected] or on (+66) 02-081-0652.